Tag: Bloomberg

12/13/18--Michael Steele and Dean Howard, former chairmen of the Republican and Democratic parties respectively, are among the heavyweights joining a Canadian company’s effort to boost the prestige of the marijuana industry. Tilray Inc., the first marijuana company to list directly on a U.S. exchange, announced the formation of a 10-person advisory board. Read

9/12/18--Adolphus Busch V, the 27-year-old great-great-grandson of the beer magnate Adolphus Busch, has launched a line of disposable marijuana vape pens, under the brand ABV Cannabis. The ABV vape pens are now in about two dozen stores. Busch decided to focus on the product because of growing popularity among marijuana users who want to avoid smoking. Read

9/12/18--Alliance One International Inc. is the latest company pivoting to pot. With a valuation just north of $215 million, the North Carolina-based company is banking on the Canadian market to drive growth as tobacco cigarette smoking rates stagnate around the globe. The move comes as investors are pouring billions of dollars into the burgeoning industry, catapulting the value of marijuana stocks. Read

8/16/18--Constellation Brands Inc., which for seven decades has made its money off beer, wine and whiskey, sees its future in a marijuana leaf. In the biggest (legal) cannabis deal, the Victor, New York-based beverage company will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S. Read

6/29/18--The U.S. Food and Drug Administration approved a prescription drug for children with severe epilepsy on June 25, making it the first prescription medicine derived from cannabis permitted to be sold in the U.S. The decision is a boost for the U.K.’s biotech industry and bolsters the nation’s position, according to the United Nations, as the biggest producer of cannabis for medical and scientific purposes. Read

9/13/17--With Atlantic City’s gambling heyday now past, politicians in the Garden State are aiming to grab marijuana’s riches while neighbors again play catch-up. Beyond the political will and public opinion favoring legalization, New Jersey has a financial incentive to beat New York and Pennsylvania for access to a legalized market where North American consumers spent $6.7 billion in 2016. Read

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